Top 10 Biggest Trading Losses in History

On May 10, JPMorgan Chase admitted a “grievous” failure in their trading operations that led to a $2 billion loss for the storied investment bank in the past six weeks alone. How does the latest money mismanagement stack up against history’s biggest losses?

Related

NEW YORK — JPMorgan Chase reported a 55 percent jump in earnings for the last three months of 2012 as mortgage fees and other income surged. The bank also released internal reviews of a surprise $6 billion trading loss that has drawn sanctions from regulators and said it would cut its CEO’s pay as a result. JPMorgan, the country’s biggest bank by assets, will pay Jamie Dimon $11.5 million for 2012, consisting of $1.5 million in salary and restricted stock awards of $10 million.

NEW YORK — JPMorgan Chase reported a 55 percent jump in earnings for the last three months of 2012 as mortgage fees and other income surged. The bank also released internal reviews of a surprise $6 billion trading loss that has drawn sanctions from regulators and said it would cut its CEO’s pay as a result. JPMorgan, the country’s biggest bank by assets, will pay Jamie Dimon $11.5 million for 2012, consisting of $1.5 million in salary and restricted stock awards of $10 million.

WASHINGTON/NEW YORK (Reuters) - JPMorgan Chase & Co said it routinely overstated the quality of mortgages it was selling to investors, and it agreed to pay $13 billion to settle related charges with the U.S. government, federal officials said on Tuesday. The behavior that the largest U.S. bank admitted to, authorities said, is at the heart of what inflated the housing bubble: lenders making bad mortgages and selling them to investors who thought they were relatively safe.

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) needs $20 billion as capital to keep its operations running.
According to Fitch Ratings, the oil producer is likely to approach the Brazilian Development Bank, also known as BNDES, for a loan arrangement of up to $20 billion.

Uber Technologies Inc. has operations in 277 cities in about 54 countries across the globe. Shrouded in controversy and fighting battles against the conventional taxi industry, the ridesharing service has still managed to attract a bunch of investors. The increased interest of investors is reflected by the fact that the taxi-sharing company is valued at $41.2 billion; the last funding round has led many to believe that Uber is here to stay.

JPMorgan Chase (JPM) agreed yesterday, to settle the $17.3 billion Madoff case, and the bank will now pay $1.7 billion to settle the reporting violations. JPMorgan also will pay $350 million to settle a related case by the Office of the Comptroller of the Currency and $543 million to resolve US Bankruptcy Court actions by the trustee seeking Madoff assets on behalf of burned investors.
The $2.6 billion settlement involves the largest ever payment made by a bank in a case involving money laundering violations.
The news caused the stock price to drop 1.15% to $58.32.